Mr. Jitender Singh
GOLD MEDALIST ( LIC )
What is Term Insurance? The term insurance plan is a type of pure life insurance policy, which provides coverage for a specified tenure of years or a certain ‘term‘ In case, the insured
ULIP, or Unit Linked Insurance Plan, offers life cover which is a major benefit over the traditional wealth creation tools. It not only helps your money grow but also protects your loved ones’ future from life’s unexpected turns. How ULIPs work? A ULIP is both an insurance policy and an investment.
What is an Endowment Policy Endowment plans are a type of life insurance policy, which provides the combined benefit of insurance coverage and savings. An endowment plan helps the insured to save regularly over a particular time period in order to avail a lump-sum amount at the maturity of the policy.
MONEY LIFE PLANS
Definition of ‘Money Back Plans Definition: In a money-back plan, the insured person gets a percentage of the sum assured at regular intervals, instead of getting the lump sum amount at the end of the term. It is an endowment plan with the benefit of liquidity.
Following are some of the types of general insurance available in India:
- Health Insurance
- Motor Insurance
- Home Insurance
- Fire Insurance
- Travel Insurance